Royal Gold, through International Royalty Corporation, acquires Great Bear Royalties

On September 9, 2022, Royal Gold, Inc. completed its previously announced acquisition (the “Acquisition”) of Great Bear Royalties Corp. ("GBR"), through its wholly owned subsidiaries, International Royalty Corporation and 1370553 B.C. Ltd., which had entered into a definitive agreement with GBR to acquire all of the issued and outstanding common shares of GBR from the GBR shareholders for cash consideration of C$6.65 per common share pursuant to a plan of arrangement under the provisions of the Business Corporations Act (British Columbia), for gross proceeds of approximately C$200 million.

Cormark Securities, GenCap Mining Advisory, Fort Capital Partners and Blake, Cassels & Graydon advised Great Bear Royalties, while CIBC Capital Markets and McCarthy Tétrault advised International Royalty Corporation and 1370553 B.C. Ltd..

McCarthy Tétrault assisted Royal Gold, through International Royalty and 1370553 B.C. Ltd., with a team led by Roger Taplin and Pavan Jawanda that included Kyle Riddell (Business).